Updated Sep 9, 2024
Citizens Bank Refinances Multifamily Property On Avenue O In Brooklyn For $925K
5409 Avenue O Brooklyn, NY 11234, USA
$925,000
$105/SF
Building Size
8,760 SF
Asset Type
MultiFamily
Closing
Jul 10, 2023
About this deal
AI
A multifamily property located at 5409 Avenue O in Brooklyn has undergone a refinancing transaction. The property spans 8,760 square feet and consists of 12 units. The transaction was facilitated by Gabby Cali from Progress Capital on behalf of Rachel Goldstein, the landlord. Citizens Bank provided a loan amount of $925,000 for the refinancing.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $925,000
- Address: 5409 Avenue O, Brooklyn
- Square Footage: 8,760
- Units: 12
- Lender: Citizens Bank
- Landlord: Rachel Goldstein
- Brokers: Gabby Cali - Progress Capital
Gabby Cali from Progress Capital represented Rachel Goldstein in the deal, assisting in securing the refinancing loan from Citizens Bank. The transaction reflects the active market for multifamily properties in Brooklyn, showcasing the ongoing demand for such investment opportunities.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
17.15%
Cash-on-Cash
-4.90%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93